THE EUROSCEPTIC Italian coalition “will win” another election which could cause chaos for the European Union if the parties campaign to leave the eurozone, lecturer Dr Andrea Mammone has said.

Dr Mammone, a history lecturer at Royal Holloway, said the Five Star Movement (M5S) and Lega parties “will win” another election in Italy if they run on a campaign against the “establishment”.

A potential coalition between the M5S and Lega collapsed on Sunday when Italy’s president Sergio Mattarella vetoed the appointment of eurosceptic Paolo Savona, 81, as finance minister.

Another election is likely to turn into a vote of Italy’s confidence in the eurozone and some market players fear it will become a de facto referendum on the single currency and Italy's role in the European Union.

Mr Mammone was asked by Sky News’ Adam Boulton whether another Italian election running explicitly on an anti-euro policy would impact public opinion. In response, the history lecturer said: “It’s very hard to say because, fundamentally, I think that they win.

But Mr Mammone added he believes both Lega and MS5 would not run on an election campaign against the euro - insisting it would be about the “people versus the establishment”.

He said: “If you look today at that, 60percentof voters of the Five Star Movement are backing the euro while 40percentof voters of the Northern Leaguearebacking the euro.

“So, it is not a euro and not euro. Now it is becoming the people versus the establishment, elites versus something else.”

The leading political figures of the coalition parties have blamed the EU elite and financial powers for the coalition collapse, which could risk a new financial crisis.

The Italian President shocked the international community after rejecting Prof Savona over his threats to pull Italy out of the eurozone.

The post-election coalition had spent days drawing up a pact aimed at ending a stalemate following an inconclusive March vote and now claims President Mattarella has abused the power of his office.

Lega leader Matteo Salvini has threatened chaos and mass protests unless snap elections are called as early as September, while M5S leader Luigi Di Maio called on parliament to "impeach President Mattarella.”

Sources close to some of Italy's main parties said there was now a chance that President Mattarella could dissolve parliament in the coming days and send Italians back to the polls as early as July 29 – less than four months after the inconclusive March 4 vote.